Bhat Singh Sabha (Highgate) |
Notes to the Accounts |
for the year ended 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Vehicles |
25% reducing balance |
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Fixtures, fittings, tools and equipment |
25% reducing balance |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Income |
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All income is recognised in the statement of financial activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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Expenditure |
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Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants awarded are included in the statement of financial activities when approved by the trustees and agreed with the recipient. The value of grants unpaid at the year end is accrued. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
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Taxation |
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The charity is exempt from corporation tax on its charitable activities. |
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Pensions |
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The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the statement of financial activities in the period to which they relate. |
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Fund accounting |
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Unrestricted general funds may be used in accordance with the charity's objects at the discretion of the trustees. Designated funds are amounts set aside by the trustees out of unrestricted general funds for specific future purposes or projects. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
14 |
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11 |
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3 |
Charitable activities costs |
2023 |
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2022 |
£ |
£ |
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Direct costs (note 4) |
124,105 |
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100,823 |
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Support costs (note 5) |
78,026 |
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65,499 |
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Total |
202,131 |
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166,322 |
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4 |
Direct costs of charitable activities |
2023 |
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2022 |
£ |
£ |
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Staff costs |
94,813 |
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92,533 |
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Corporate catering |
29,292 |
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8,139 |
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Nursery food & provisions |
- |
|
151 |
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Total direct costs of charitable activities |
124,105 |
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100,823 |
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5 |
Support costs for charitable activities |
2023 |
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2022 |
£ |
£ |
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Indirect employee costs |
716 |
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576 |
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Premises Costs |
38,285 |
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24,926 |
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Administrative overheads |
31,346 |
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26,775 |
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Legal & professional fees |
3,608 |
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8,153 |
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Depreciation of assets used for charitable purposes |
1,791 |
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2,389 |
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Accountancy fees |
2,280 |
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2,140 |
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Examination fee |
- |
|
540 |
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Total support costs for charitable activities |
78,026 |
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65,499 |
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6 |
Trustees' remuneration and benefits |
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The aggregate amount of expenses paid to trustees was £0 (2021: £0) Neither the trustees nor any persons connected with them have received any renumeration from the charity or any related entity, either in the current or prior year. |
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7 |
Staff costs |
2023 |
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2022 |
£ |
£ |
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Gross Salaries |
93,026 |
|
85,181 |
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Employer's National Insurance |
1,559 |
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6,645 |
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Pension |
228 |
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707 |
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94,813 |
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92,533 |
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The average number of employees during the year was as follows: |
2023 |
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2022 |
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Management |
1 |
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1 |
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Others |
13 |
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10 |
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No employees received emoluments in excess of £60,000 |
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8 |
Tangible fixed assets |
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Freehold Property |
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Nursery Fixtures & Fittings |
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Fixtures & Fittings |
£ |
£ |
£ |
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Asset cost, valuation or revalued amount |
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At 1 April 2022 |
2,143,587 |
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142,973 |
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99,898 |
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Additions |
- |
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- |
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- |
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Disposals |
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At 31 March 2023 |
2,143,587 |
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142,973 |
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99,898 |
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Depreciation and impairment provisions |
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At 1 April 2022 |
- |
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141,076 |
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94,942 |
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Charge for the year |
- |
|
474 |
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1,239 |
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Disposals |
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At 31 March 2023 |
- |
|
141,550 |
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96,181 |
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Net book value |
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At 31 March 2023 |
2,143,587 |
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1,423 |
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3,717 |
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At 31 March 2022 |
2,143,587 |
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1,897 |
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4,956 |
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Motor vehicle |
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Computer equipment |
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Totals |
£ |
£ |
£ |
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Asset cost, valuation or revalued amount |
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At 1 April 2022 |
16,772 |
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4,453 |
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2,407,683 |
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Additions |
- |
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- |
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- |
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Disposals |
(16,772) |
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(16,772) |
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At 31 March 2023 |
- |
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4,453 |
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2,390,911 |
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Depreciation and impairment provisions |
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At 1 April 2022 |
16,772 |
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4,141 |
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256,931 |
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Charge for the year |
- |
|
78 |
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1,791 |
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Disposals |
(16,772) |
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(16,772) |
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At 31 March 2023 |
- |
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4,219 |
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241,950 |
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Net book value |
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At 31 March 2023 |
- |
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234 |
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2,148,961 |
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At 31 March 2022 |
- |
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312 |
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2,150,752 |
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9 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
30,033 |
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2,769 |
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Prepayments and accrued income |
- |
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1,194 |
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30,033 |
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3,963 |
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10 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Bank loans and overdrafts |
92,287 |
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90,304 |
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Trade creditors |
5,161 |
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9,417 |
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Deferred income |
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4,628 |
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3,545 |
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Accruals |
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1,201 |
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1,735 |
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Taxation and social security costs |
13,315 |
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(6,121) |
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Other creditors |
2,212 |
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5,390 |
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118,804 |
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104,270 |
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11 |
Creditors: amounts falling due after one year |
2023 |
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2022 |
£ |
£ |
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Bank loans more than 5 years by instalment |
207,709 |
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231,363 |
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12 |
Fund balances |
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Opening funds |
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Movement in funds |
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Closing funds |
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£ |
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£ |
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£ |
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Unrestricted funds |
1,824,353 |
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59,717 |
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1,884,070 |
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1,824,353 |
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59,717 |
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1,884,070 |
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The purposes for which the funds are held by the charity are: |
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Unrestricted funds |
These funds are held for the objectives of the charity, and to provide free reserves for future activities, and, subject to charity legislation are free from all restrictions on their use. |
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13 |
Controlling party |
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The charity is wholly under the control of the board of Trustees. |
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14 |
Other information |
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Bhat Singh Sabha (Highgate) is a charitable company limited by guarantee and incorporated in England. Its registered office is: |
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256 Moseley Road |
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Highgate |
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Birmingham |
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B12 0BS |